Contact AIB [to get information about loan decline]

TotsD

Hi
Is it possible to contact AIB in writing about been refused alone so i can explain my circumstances. No one seems to want to listen on phone and are saying that its not their decision and i can apply again in 6months.

Huggles

Hi TotsD

Have they given you a reason for decline at all?

If you feel hard done by I would ask for a meeting with the branch relationship manager. Sit down and explain and see what they have to say, you can make an appointment with them by phone. Just call the branch.

TotsD wrote: »

Hi
Is it possible to contact AIB in writing about been refused alone so i can explain my circumstances. No one seems to want to listen on phone and are saying that its not their decision and i can apply again in 6months.

TotsD

I have an overdraft of 500 and im always partly in it, mainly because i always spend what i can, But i could afford not 2, (Stop buying shoes) My money goes in every wk(550) ive never missed a loan or cc payment in the 10yrs + ive been with them. Would the bank its self be able to help or would they just say what im been told on the phone that they have no control over what the lenders decide. That is why i would like to contact lenders directly.

lexa

Have you formally applied for a loan?

If it was a formal application to your bank and you were turned down, under the Consumer Protection Code (provision 4.24) the bank is required to outline the reasons why credit was not approved in writing. Contact your branch and ask them to provide that information.

http://www.centralbank.ie/regulation/processes/consumer-protection-code/Documents/Consumer%20Protection%20Code%202012.pdf

chris85

Ok so you are always going into the overdraft and you are concerned as to why its refused? Going into overdraft constantly is showing you cant keep within the money you have. Adding a loan repayment to this would be a bad decision from the bank.

Have you applied properly to the bank and been refused. if you were told over the phone you would not be accepted its probably due them seeing the overdraft in constant use and knowing their own lending criteria that a constant use of overdraft will mean rejection of a loan application.

OP, get better with your money (stop buying shoes as you say) and reapply in 6 months or talk to another lender. Banks are running a tight ship in terms of lending these days so you do not sound like a good applicant for a loan.

Huggles

Unfortunately you don't get to speak to the lenders.

Your posts aren't very clear, have you applied and been declined, did they not give you a reason?

Try your best to stay out of your overdraft and stop buying shoes

TotsD wrote: »

I have an overdraft of 500 and im always partly in it, mainly because i always spend what i can, But i could afford not 2, (Stop buying shoes) My money goes in every wk(550) ive never missed a loan or cc payment in the 10yrs + ive been with them. Would the bank its self be able to help or would they just say what im been told on the phone that they have no control over what the lenders decide. That is why i would like to contact lenders directly.

Liam D Ferguson

TotsD wrote: »

I have an overdraft of 500 and im always partly in it, mainly because i always spend what i can, But i could afford not 2, (Stop buying shoes)

This is the key point. While you're happy that you can afford not to, the bank aren't. They will look for history that you actually have for at least six months before they will consider lending, not that you could.

Jim2007

Of course the purpose of the loan will also play a big part in the decision making process as well as your financial history.

coylemj

If you have an overdraft facility and are permanently in the red, the bank sees this as poor financial management. You need to get back in the black about once a quarter to keep them happy and your credit rating clean.

In the current climate there is more demand for loans than there is free cash to lend so the banks' lending criteria is much more strict than it used to be. Minor infractions like occasionally going over your overdraft limit or missing the payment on your CC by a few days and incurring interest now has implications for lending whereas they might have been overlooked a few years ago if they didn't happen too often.

In summary, you need to be squeaky clean as far as the bank is concerned if you want them to lend you money these days.